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Bullboard - Stock Discussion Forum Resource Capital Gold Corp GDPEF

Metals & Mining Gold Industrial Metals & Minerals

RF Capital Group Inc is a financial services firm. The company's operating segment includes Wealth Management and Corporate. It generates maximum revenue from the Wealth Management segment. The operations segment provides carrying broker services to third parties, including trade execution, clearing, and settlement services.

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Comment by LeftBookon Jul 14, 2019 4:51pm

RE:Sprott lending planned bankruptcy

sounds like Gibson was keen to develop Dufferin. Perhaps that explains the following numbers for the Development Property. RCG Sept 2018 24,958,156 PwC Dec 2018 25,653,698 Low numbers on the ...more

Discussion

Post by damianchosenoneon Jul 13, 2019 6:29pm

Sprott lending planned bankruptcy

I spoke to a geologist that knows quite a bit about everything that happened with Rcg and it was simple: Greg Gibson screwed sprott lending into investing too much of their cash and there was an ...more

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Comment by LeftBookon Jul 13, 2019 10:41am

RE:RE:RE:What does this mean to shareholders now?

possible/likely outcome 2019 1. the company declares bankruptcy 2. gets delisted from the exchange 3. your shares are worth nothing unlikely to repeat scenario from early 2016 1. company wrote ...more

Discussion

Comment by Juventino21on Jul 13, 2019 9:37am

RE:RE:What does this mean to shareholders now?

Thank you for the reply LeftBook. So basically in other words if they do go bankrupt shareholders would lose all monies as well?

Discussion

Post by LeftBookon Jul 13, 2019 5:18am

recap

I misread the settlement. RCG sold substantially all of its assets to Sprott Lending, the highest bidder, for $2.2M. It is not a debt settlement. RCG still owes Sprott Lending $8M. ...more

Comment by LeftBookon Jul 13, 2019 5:01am

RE:What does this mean to shareholders now?

As the sale does not provide sufficient proceeds to satisfy the secured debts owing by Resource Capital, the group does not anticipate being able to file a viable proposal to its creditors. As a ...more

Discussion

Post by LeftBookon Jul 13, 2019 4:54am

estimate of PwC's balance sheet as of July 11, 2019

Update balance sheet again Resource Capital sold substantially all of its assets to Sprott Lending for $2.2M Resource Capital expects to be deemed bankrupt following ...more

Post by LeftBookon Jul 13, 2019 4:33am

estimate of PwC's balance sheet March 2019

The PwC numbers are very similar to the RCG June 2018 balance sheet. Below is an estimate of the March 31, 2019 PwC balance sheet incl SISP/DIP (See note 2) ASSETS ...more

Post by LeftBookon Jul 13, 2019 4:26am

Jack's balance sheets June & Sept 2018

June 30, 2018 Year End Report https://www.rcgcorp.ca/assets/docs/financials/063018-YE.pdf Sept 30, 2018 Quarterly Report https://www.rcgcorp.ca/assets/docs/financials/2019-Q1-FS.pdf

Post by Juventino21on Jul 13, 2019 1:14am

What does this mean to shareholders now?

Do we retain our shares and a shell is formed? Has the ship sailed and we lose all shares/ money along with it?

Discussion

Comment by damianchosenoneon Jul 12, 2019 5:18pm

RE:RE:RE:RE:RE:RE:RCG balance sheet update

You tell me? Jack said it is still rcg's debt!

Discussion

Comment by LeftBookon Jul 12, 2019 5:06pm

RE:RE:RE:RE:RE:RE:RCG balance sheet update

Discussion

Comment by LeftBookon Jul 12, 2019 4:50pm

RE:RE:RE:RE:RE:RCG balance sheet update

what is the 8M debt secured against if RCG sold the properties to Sprottt Lending ? if Sprott Lending writes off 8M of credit facility how could RCG still owe on it.

Discussion

Comment by damianchosenoneon Jul 12, 2019 3:21pm

RE:RE:RE:RE:RCG balance sheet update

Sprott lending got 3 properties for the price of one ( they gave rcg a loan for dufferin for less than rcg bought dufferin for from receivership a few years back) . They got tangier and forest hill ...more

Discussion

Comment by LeftBookon Jul 12, 2019 2:20pm

RE:RE:RE:RCG balance sheet update

Since RCG sold substaintially all of its assets to Sprott Lending at a heavy loss, I imagine that RCG picked up a few tax loss credits for the shell. My estimates $5M current total $25M

Discussion

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